Pseudonymous analyst Bluntz is currently bullish on the larger memecoins. For example, he states that Dogecoin, among others, is preparing for a new trend. According to Bluntz, Dogecoin appears to be at the beginning of a new five-wave rally.
Dogecoin poised for gains
For his analyses, Bluntz uses the Elliott Wave Theory, a theory that states that a bullish financial asset usually moves in a pattern of five waves. To then start an ABC correction.
Based on that theory, things are starting to look very bullish for Dogecoin, the analyst says.
According to Bluntz, it is a matter of time before the Dogecoin price rises above $0.50. And this after the currency had already risen by 26% over the past seven days.
In that respect, things are moving in the right direction for this memecoin, provided Bluntz’s predictions come true.
Dogecoin versus Bitcoin
Furthermore, the analyst is currently looking at Dogecoin versus Bitcoin (DOGE/BTC). Based on that chart, Bluntz says it is clear that Dogecoin will outperform Bitcoin for a period of time before the bull market comes to an end.
“DOGE/BTC is still accumulating. It is impossible that this ratio will not increase significantly towards the end of the cycle,” Bluntz said.
We’re going to experience it. Because the narrative for Bitcoin is rock solid, while Dogecoin of course has no fundamental value whatsoever.
While America may set up a national Bitcoin reserve under Trump, there is nothing even close to that on the agenda for Dogecoin.
Claim €10 free today and pay no trading fees on the first €10,000!
Grab this unique opportunity with Newsbit and Bitvavo by creating an account now via the button below. Deposit just €10 and immediately receive €10 free. In addition, you can trade your first €10,000 in trades for 7 days without any fees. Start today and benefit immediately from the growing popularity of crypto!
Create your account and claim your €10 free.
Don’t miss this opportunity to benefit directly from the growing popularity of Crypto!
Source: https://newsbit.nl/analist-grote-memecoins-zien-er-onmiskenbaar-sterk-uit/
